How Can You Make Your Offer Stand out from the Crowd?

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Recently our market has been on fire. Because there is so much activity in the Charleston market, we thought it would be a good time to discuss how to handle multiple offer situations. 

The Charleston market is seeing more and more offers being put in on one home at a time, putting buyers into a bidding war. It's extremely frustrating for everyone involved. No one has a crystal ball, and there are no guarantees that your offer will be accepted. However, there are ways to make your offer more attractive. Here are five of them:

1. Pay cash or get approved through underwriting: In the Charleston market, most buyers are submitting offers with pre-approval letters. In a market this competitive, however, it doesn't mean much. We suggest getting approved through underwriting, which will make your offer look like cash. With just a few provisions, you will be ready to go through with the deal. 
2. Write a clean offer: Focus on the amount you're willing to pay for the house. Don't put in a host of stipulations that might annoy the seller. This will make you look like a far more capable buyer.
3.  Make a list of contingencies: As an informed buyer, you're obviously going to get all the necessary inspections on the house so you know exactly what you're purchasing. Make a list of the contingencies in the contract; this way, the seller will know you're more serious about buying the home.
4. Keep the time frame short: If you are approved through underwriting, you should be able to close in two weeks. Ask you agent to push to get inspections done so that your closing date is shorter than anyone else's.
5. Make it personal: In your offer, include a letter that tells a seller how much you love the house. Include a picture of your family and all the information about why the house is so important to you and your family. Most sellers love their house and want the buyer to love it as much as they do; this personal letter may bump your offer over someone else's.

If you follow these simple steps, your offer will look a whole lot more attractive that those of other buyers. Stay calm, hang in there, and hire an experienced agent to help you make the most of these situations!

If you have any questions, or if you need real estate assistance of any kind, give us a call or shoot us a quick email. We would love to hear from you!